Get Louisville, KY Home Insurance Rates!
Shopping for new homeowners insurance in Louisville, Kentucky?
We can help you find a great policy at a price you can afford, all from the comfort of your own living room. Our online quoting process is quick and easy, allowing you to you compare up to 12 competitive quotes from national insurance companies you value and trust.
Simply enter your zip code above, answer a few questions and we will get to work finding your new homeowners insurance policy.
A Few Facts about Louisville, Kentucky Home Insurance Rates
Residents of Louisville pay an average of $1,174 for a standard home insurance policy, the national average premium across the United States is $1,311. For the state of Kentucky, the premium rank is #28 and the most recent premium change was 0.2% from the previous year.
We can help lower your homeowners insurance costs by shopping your coverage with a variety of national insurance companies. It’s quick and easy. You can get multiple free quotes, just enter your Louisville zip code to get started.
Louisville and Homeowners Insurance
Shopping for homeowners insurance is never fun but we strive to make the process quick and simple while also taking the time to carefully review your needs to make sure your home and property is fully covered.
We will search for home insurance discounts and examine your enhanced coverage options to make sure your home and possessions are fully protected. In most cases, we can help you save up to 40% on your current rates, all from the comfort of your own home.
In addition to finding a great policy and price, our goal is to make sure you have a complete understanding of your policy before you sign on the dotted line. We are always available to answer any questions you have and explain the various coverages that make up a homeowners policy.
Our agents will guide you through the entire process and evaluate your current coverage to make sure you are protected against all risks including flooding or earthquake damage.
Kentucky Insurance Coverages You May Not Know About
While homeowners insurance will absolutely protect your home’s structure and your personal possessions, it also includes some coverages you may not be familiar with, here is a quick overview of other structures coverage as well as loss of use:
Other Structures: This coverage will protect all other structures on your property. If you have a shed, barn, other outbuildings, fencing or other structures on your property that are detached from your home, this coverage will protect them. Other structures coverage is often capped at 10 percent of your dwelling coverage so if you are carrying $300,000 in dwelling coverage your other structures coverage is $30,000.
Loss of Use: This coverage will help pay your living costs if you are forced out of your home due to a covered peril. A covered peril might include fire, theft or water damage. Loss of use coverage will pay for expenses such as hotels, restaurants and even dry cleaning if you are not able to live in your home while it is being repaired or rebuilt after a claim.
| Avg. KY Rate | Discounts | Savings | Shop Rates |
|---|---|---|---|
| $1174 | up to 40% off | $470 |
Compare Homeowners Insurance Rates in Louisville, KY!
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Average Rates Nearby Louisville
Are you looking for homeowners insurance in a city near Louisville? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Louisville, KY
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Louisville.
40202, 40203, 40204, 40205, 40206, 40207, 40208, 40209, 40210, 40211, 40212, 40213, 40214, 40215, 40216, 40217, 40218, 40219, 40220, 40222, 40223, 40228, 40229, 40241, 40242, 40243, 40245, 40258, 40272, 40280, 40291, 40299,
Louisville, KY Home Insurance Average Premiums
$613 /yr.
For the city of Louisville, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $613 /yr. |
| Average Coverage: | $863 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1163 /yr. |
What is the average home insurance cost for a home in Louisville, KY?
- • The average homeowners insurance premium paid annually for a home in Louisville is around $863 per year.
What does it cost on average per month for home insurance in Louisville, KY?
- • Homeowners in Louisville pay an average cost per month around $72.00 for insurance coverage.
Louisville, KY - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $230,187 | $216,367 |
| February | $230,903 | $218,416 |
| March | $232,111 | $220,710 |
| April | $232,788 | $222,966 |
Homeowners insurance will help cover the cost to repair or replace your Louisville home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Louisville
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Louisville, KY homeowners insurance rates all in one place! |
Saving Money Tips on Louisville Home Insurance
A great way to save money on Louisville homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Louisville area? Check out what homeowners are paying on average for Kentucky homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 573 ft. | This is the average home elevation in Louisville, KY | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Kentucky flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Louisville, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Jefferson County.
Kentucky Homeowners Insurance News & Information
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Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024
Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]
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Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024
While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states. In most states, insurers are allowed to consider credit scores when setting […]
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The Best Way to Check the Financial Strength of Home Insurance Companies Posted on Wednesday 3rd April, 2024
If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it. A.M. Best is a credit rating […]
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Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024
A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase. Currently, a Broward commissioner is asking Congress to pass legislation he claims […]
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North Carolina Coastal Home Insurance Rates Posted on Friday 29th March, 2024
North Carolina is a fantastic place to live with plenty of cultural activities, beautiful beaches, world-class cities as well as great restaurants and shopping. The only disadvantage to living in North Carolina, particularly if your home is located in coastal area is the cost of homeowners insurance. The average premium for a standard homeowners insurance […]
Louisville, KY Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Louisville so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Louisville, KY?
- The average square footage in Louisville is around 1,917 Sq. Ft. which would cost you around $226,205 to replace the home if you base the home on the price to build per square foot of $118.
Minimum Replacement Cost Total: $226,205
Location: Louisville, Kentucky (Jefferson County)
Average Building Cost Per Square Foot in Louisville: $118 (low end)
Average Square Footage in Louisville: 1,917 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $118 | $226,205 |
| Some Additional Upgrades | $148 | $282,757 |
| Major Home Updates or Advancements | $177 | $339,308 |
The dwelling coverage is calculated by the average cost per square foot ($118) in Louisville, Kentucky times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $368,750 (Media price to build of $148 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.